Group turnover year to date increased by 18% on last year to £270m with a minimal return on investments of 2.2%. The turnover from non-UK car insurance was £16m and although Confused.com's turnover increased by 8%, Admiral admitted that margins remained under pressure.
Henry Engelhardt, chief executive, said: "I'm happy to report that nothing significant has changed since our 2008 full year results and that performance in the first quarter of 2009 is as we had expected.
"Against a backdrop of
- Ghost broker jailed for two years
- Up to 275 jobs at risk at Axa XL in the UK
- Legal Protection Group confirms loss of Inter Hannover capacity
- Towergate’s Andy Parkin resurfaces at Gauntlet
- Consolidation opens up opportunities, says Romero boss
- Laurent Matras takes interim Axa retail MD role as Gareth Howell departs
- Profits up at Allianz in 2018